Upwork Correlations

UPWK Stock

USD 16.02 0.64 4.16%

The current 90-days correlation between Upwork Inc and TriNet Group is 0.26 (i.e., Modest diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Upwork moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Upwork Inc moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

Upwork Correlation With Market

Average diversification

The correlation between Upwork Inc and DJI is 0.12 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Upwork Inc and DJI in the same portfolio, assuming nothing else is changed.

Check out World Market Map to better understand how to build diversified portfolios, which includes a position in Upwork Inc. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in housing.

Moving together with Upwork Stock

0.76	G	Genpact Limited	Pair Corr
0.7	BR	Broadridge Financial	Pair Corr
0.69	BV	BrightView Holdings	Pair Corr
0.73	KC	Kingsoft Cloud Holdings Trending	Pair Corr
0.92	LZ	LegalZoom	Pair Corr
0.67	NL	NL Industries	Pair Corr
0.84	SQ	Block Inc	Pair Corr
0.85	WM	Waste Management	Pair Corr
0.86	DRVN	Driven Brands Holdings	Pair Corr
0.74	VRSK	Verisk Analytics	Pair Corr
0.89	VSEC	VSE Corporation	Pair Corr
0.92	EXLS	ExlService Holdings	Pair Corr
0.85	ADP	Automatic Data Processing	Pair Corr
0.77	AXR	AMREP	Pair Corr
0.73	CBZ	CBIZ Inc	Pair Corr
0.78	FOUR	Shift4 Payments	Pair Corr
0.84	CXW	CoreCivic	Pair Corr
0.71	DLX	Deluxe	Pair Corr

Moving against Upwork Stock

0.85	VCIG	VCI Global Limited	Pair Corr
0.83	VLTO	Veralto	Pair Corr
0.82	MG	Mistras Group	Pair Corr
0.72	WHLM	Wilhelmina	Pair Corr
0.69	FA	First Advantage Corp	Pair Corr
0.63	DLHC	DLH Holdings Corp Fiscal Year End 4th of December 2024	Pair Corr
0.45	FC	Franklin Covey	Pair Corr
0.86	EFX	Equifax	Pair Corr
0.86	FCN	FTI Consulting	Pair Corr
0.61	EXPO	Exponent	Pair Corr
0.55	DSS	DSS Inc	Pair Corr
0.51	FORR	Forrester Research	Pair Corr
0.44	ACU	Acme United	Pair Corr

Related Correlations Analysis

	TBI	KELYA	TNET	MAN	NSP	HRT	KFRC	PAYX	RHI	KFY
TBI		0.63	0.41	0.56	0.68	-0.31	0.57	-0.39	-0.32	0.01	TBI
KELYA	0.63		0.26	0.71	0.77	-0.48	0.21	-0.6	-0.7	-0.51	KELYA
TNET	0.41	0.26		0.72	0.7	-0.29	0.56	-0.41	-0.35	0.09	TNET
MAN	0.56	0.71	0.72		0.84	-0.51	0.55	-0.7	-0.63	-0.19	MAN
NSP	0.68	0.77	0.7	0.84		-0.56	0.46	-0.7	-0.74	-0.41	NSP
HRT	-0.31	-0.48	-0.29	-0.51	-0.56		-0.55	0.64	0.62	0.42	HRT
KFRC	0.57	0.21	0.56	0.55	0.46	-0.55		-0.57	-0.32	0.13	KFRC
PAYX	-0.39	-0.6	-0.41	-0.7	-0.7	0.64	-0.57		0.88	0.59	PAYX
RHI	-0.32	-0.7	-0.35	-0.63	-0.74	0.62	-0.32	0.88		0.81	RHI
KFY	0.01	-0.51	0.09	-0.19	-0.41	0.42	0.13	0.59	0.81		KFY
	TBI	KELYA	TNET	MAN	NSP	HRT	KFRC	PAYX	RHI	KFY

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Correlation Matchups

Over a given time period, the two securities move together when the Correlation Coefficient is positive. Conversely, the two assets move in opposite directions when the Correlation Coefficient is negative. Determining your positions' relationship to each other is valuable for analyzing and projecting your portfolio's future expected return and risk.

High positive correlations

RHI	+ 0.88	PAYX
NSP	+ 0.84	MAN
KFY	+ 0.81	RHI
NSP	+ 0.77	KELYA
MAN	+ 0.72	TNET
MAN	+ 0.71	KELYA

High negative correlations

RHI	- 0.74	NSP
PAYX	- 0.7	NSP
PAYX	- 0.7	MAN
RHI	- 0.7	KELYA
RHI	- 0.63	MAN
PAYX	- 0.6	KELYA

Risk-Adjusted Indicators

There is a big difference between Upwork Stock performing well and Upwork Company doing well as a business compared to the competition. There are so many exceptions to the norm that investors cannot definitively determine what's good or bad unless they analyze Upwork's multiple risk-adjusted performance indicators across the competitive landscape. These indicators are quantitative in nature and help investors forecast volatility and risk-adjusted expected returns across various positions.

	Mean Deviation	Jensen Alpha	Sortino Ratio	Treynor Ratio	Semi Deviation	Expected Shortfall	Potential Upside	Value @Risk	Maximum Drawdown
TBI	2.23	(0.32)	0.00	(0.05)	0.00	0.00	4.54	(4.52)	16.74
KELYA	1.69	(0.69)	0.00	(0.34)	0.00	0.00	2.27	(4.04)	27.28
TNET	1.76	(0.24)	0.00	(0.02)	0.00	0.00	3.91	(3.24)	16.26
MAN	1.36	(0.37)	0.00	(0.18)	0.00	0.00	2.48	(2.84)	12.95
NSP	1.62	(0.49)	0.00	(0.17)	0.00	0.00	2.40	(4.45)	13.22
HRT	0.11	0.00	(0.51)	(0.02)	0.09	(0.16)	0.21	(0.21)	0.98
KFRC	1.32	(0.25)	0.00	(0.12)	0.00	0.00	2.48	(3.03)	9.02
PAYX	0.85	0.10	0.12	0.21	0.52	(1.05)	2.19	(1.46)	8.29
RHI	1.24	0.09	0.13	0.15	1.02	(1.54)	2.85	(2.06)	13.22
KFY	1.30	(0.03)	0.03	0.08	1.35	(1.45)	3.56	(2.17)	9.56

Upwork Corporate Management

Andrew Rabinovich	Head VP	Profile
Dave Bottoms	General Marketplace	Profile
Jeff McCombs	Chief Officer	Profile
Erin Thomas	Inclusion Diversity	Profile

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